Category: Business

Governor of the Bank of Ghana (BoG) Dr Ernest Addison has outlined measures that have been taken by the central bank to support domestic banks to deal with the impact of the domestic debt exchange programme on their operations. This was after the BoG carried out a stress test for the banks ahead of the takeoff of the...

The Executive Director for the Chamber of Petroleum Consumers, Ghana (COPEC), Duncan Amoah, says the price of petroleum products may see a decline if the oil secured by government is distributed this week. Price of fuel soared on Saturday, January 21, 2023, for the second pricing window after weeks of decline. This situation was attributed...

The Chamber for Bulk Oil Distributors (CBODs) wants government to urgently develop a framework to direct the gold-for-oil policy to prevent unfair treatment. Some members of the chamber have already been engaging the Bulk Oil Storage and Transportation Company Limited (BOST), to access the product, a week after the government received the first consignment under...

The Association of Ghana Industries (AGI) has made a passionate appeal to government to take steps to address the recent depreciation of the cedi to the dollar, warning if the trend continues, it could erode the gains made during the month of December 2022. The association comment is coming at a time the cedi has...

Government will borrow ¢2.42 billion in Treasury bills to refinance the upcoming maturities of ¢2.22 billion in this week’s T-bill auction. This is coming after the government obtained ¢1.72 billion from the short-term securities, from a target of ¢1.125 billion last week. The amount achieved exceeded the auction target by 52.30%, surpassing the refinancing obligation....

Some Oil Marketing Companies (OMCs) have started increasing the prices of petroleum products at the pumps. The marginal increase is due to the depreciation of the cedi and the slight increase in the price of crude oil. It is the first in about a month. The prices are, however, slightly lower at some OMCs. Now,...

The government has yet again extended the Domestic Debt Exchange (DDE) Programme. This will be the second extension given after agitations among individual bondholders to sign on to the Programme. The decision is to allow the government to further engage with these bondholders. The government had initially extended subscription to the Programme from Friday, December...

The Ghana Revenue Authority (GRA) has assured to reimburse mobile money customers who are wrongfully overcharged following the implementation of the 1 percent levy on electronic transfers. The reduction of the Electronic Transfer Levy (E-Levy) from 1.5 to 1 percent commenced on Wednesday, January 11. The reduction of the levy was made known in the...

The Ghana Statistical Service has pegged the inflation rate for December 2022 at 54.1 percent. This means that in the month of December 2022, the general price level was 54.1% higher than in the same period in 2021. At 59.7%, food inflation was the highest inflation rate for December 2022, soaring past the 55.3% recorded...

The Ghana Chamber of Telecommunications says it will commence the implementation of the revised Electronic Transfer levy (E-Levy) rate of 1% from today, Wednesday, January 11, 2023. The government presenting the 2023 Budget and Economic Policy Statement, reviewed the 1.5 percent electronic transaction levy downwards to 1 percent effective January 2023. The reduction has also...